Brokerages Set Cencora, Inc. (NYSE:COR) PT at $235.30

Shares of Cencora, Inc. (NYSE:COR) have received an average recommendation of “Moderate Buy” from the nine brokerages that are currently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $235.30.

A number of brokerages recently issued reports on COR. Citigroup raised their price target on Cencora from $265.00 to $280.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. StockNews.com lowered Cencora from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 2nd. SVB Leerink reissued an “outperform” rating and set a $275.00 price target on shares of Cencora in a research note on Thursday. Finally, Robert W. Baird lifted their target price on Cencora from $275.00 to $277.00 and gave the company an “outperform” rating in a research report on Thursday, May 2nd.

Cencora Stock Performance

NYSE:COR opened at $225.30 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.53 and a debt-to-equity ratio of 3.41. Cencora has a 12-month low of $171.65 and a 12-month high of $246.75. The stock has a 50-day moving average price of $229.12 and a 200 day moving average price of $228.16. The stock has a market capitalization of $44.94 billion, a P/E ratio of 24.65, a P/E/G ratio of 1.57 and a beta of 0.48.

Cencora (NYSE:COR) last announced its earnings results on Wednesday, May 1st. The company reported $3.80 EPS for the quarter, topping analysts’ consensus estimates of $3.65 by $0.15. The firm had revenue of $68.41 billion during the quarter, compared to analysts’ expectations of $70.60 billion. Cencora had a return on equity of 268.67% and a net margin of 0.67%. The company’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.50 EPS. Equities research analysts forecast that Cencora will post 13.44 EPS for the current fiscal year.

Cencora Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were given a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 0.91%. The ex-dividend date of this dividend was Thursday, May 9th. Cencora’s payout ratio is 22.32%.

Insider Transactions at Cencora

In other news, EVP Gina Clark sold 1,874 shares of the business’s stock in a transaction on Friday, May 31st. The stock was sold at an average price of $223.86, for a total value of $419,513.64. Following the completion of the transaction, the executive vice president now directly owns 13,284 shares of the company’s stock, valued at approximately $2,973,756.24. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, EVP Gina Clark sold 1,874 shares of the business’s stock in a transaction on Friday, May 31st. The stock was sold at an average price of $223.86, for a total transaction of $419,513.64. Following the transaction, the executive vice president now directly owns 13,284 shares in the company, valued at approximately $2,973,756.24. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Robert P. Mauch sold 57,564 shares of the business’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $235.09, for a total value of $13,532,720.76. Following the transaction, the chief operating officer now owns 24,412 shares in the company, valued at $5,739,017.08. The disclosure for this sale can be found here. In the last three months, insiders sold 1,956,675 shares of company stock valued at $422,352,056. Corporate insiders own 15.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. purchased a new position in Cencora during the 4th quarter worth $4,212,508,000. Price T Rowe Associates Inc. MD purchased a new stake in Cencora during the 1st quarter valued at about $2,183,619,000. JPMorgan Chase & Co. purchased a new stake in Cencora during the 1st quarter valued at about $1,199,695,000. Boston Partners purchased a new stake in Cencora during the 1st quarter valued at about $1,001,269,000. Finally, Capital Research Global Investors purchased a new stake in Cencora during the 1st quarter valued at about $650,424,000. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Cencora Company Profile

Cencora, Inc sources and distributes pharmaceutical products. The company's U.S. Healthcare Solutions segment distributes pharmaceuticals, over-the-counter healthcare products, home healthcare supplies and equipment, and related services to acute care hospitals and health systems, independent and chain retail pharmacies, mail order pharmacies, medical clinics, long-term care and alternate site pharmacies, and other customers; provides pharmacy management, staffing, and other consulting services; supply management software to retail and institutional healthcare providers; packaging solutions to various institutional and retail healthcare providers; clinical trial support, product post-approval, and commercialization support services; data analytics, outcomes research, and additional services for biotechnology and pharmaceutical manufacturers; pharmaceuticals, vaccines, parasiticides, diagnostics, micro feed ingredients, and other products to the companion animal and production animal markets; and sales force services to manufacturers.